The Reading / Listening - Libra Crypto-currency - Level 4

Facebook will reveal details of an ambitious plan for its new global crypto-currency, named Libra. A white paper will outline the plan. It will be the social network's entry into the profitable financial services market. Millions of people around the world who have no bank account will use it, as well as around 2.7 billion Facebook users. People will send and receive payments online via Facebook-owned apps. The sending fees will be very low.



Analysts say Libra will be more stable than Bitcoin. It will avoid the fluctuations in value that Bitcoin experiences. Libra will be backed by a basket of major currencies. It will also have the backing of multi-national companies like Mastercard. Libra could increase Facebook's fortunes. A finance company said Libra could be one of "the most important initiatives" in Facebook's history. It could bring many new users and "generate new revenue streams".

Try the same news story at these levels:

    Libra Crypto-currency - Level 5 or  Libra Crypto-currency - Level 6

Sources
  • https://www.nytimes.com/2019/06/18/technology/how-libra-would-work-for-you.html
  • https://www.foxbusiness.com/markets/facebook-crypto-currency-launch-details
  • https://cointelegraph.com/news/facebook-releases-crypto-currency-white-paper-for-libra-currency


Make sure you try all of the online activities for this reading and listening - There are dictations, multiple choice, drag and drop activities, crosswords, hangman, flash cards, matching activities and a whole lot more. Please enjoy :-)



Phrase Matching

Paragraph 1

  1. Facebook will reveal details of
  2. A white paper will
  3. the profitable financial
  4. have no bank
  5. around 2.7 billion Facebook
  6. send and receive
  7. via Facebook-
  8. The sending fees will
  1. users
  2. owned apps
  3. an ambitious plan
  4. be very low
  5. services market
  6. account
  7. outline the plan
  8. payments online

Paragraph 2

  1. Libra will be more
  2. avoid the fluctuations
  3. backed by a basket
  4. have the backing of multi-
  5. Libra could increase Facebook's
  6. one of the most important
  7. bring
  8. generate new revenue
  1. national companies
  2. initiatives
  3. fortunes
  4. stable than Bitcoin
  5. many new users
  6. streams
  7. of major currencies
  8. in value

Listening — Listen and fill in the gaps

Facebook will (1) ___________________ an ambitious plan for its new global crypto-currency, named Libra. A white paper will (2) ___________________. It will be the social network's entry (3) ___________________ financial services market. Millions of people around the (4) ___________________ no bank account will use it, as (5) ___________________ 2.7 billion Facebook users. People will send and receive payments online via Facebook-owned apps. The (6) ___________________ be very low.

Analysts say Libra will be (7) ___________________ Bitcoin. It will avoid the (8) ___________________ that Bitcoin experiences. Libra will be backed by a basket of major currencies. It will also (9) ___________________ of multi-national companies like Mastercard. Libra could increase Facebook's fortunes. (10) ___________________ said Libra could be one of "the most important initiatives" in Facebook's history. It (11) ___________________ new users and "generate (12) ___________________ ".

Put a slash (/) where the spaces are

Facebookwillrevealdetailsofanambitiousplanforitsnewglobalcrypto-
currency,namedLibra.Awhitepaperwilloutlinetheplan.Itwillbethesoc
ialnetwork'sentryintotheprofitablefinancialservicesmarket.Millionso
fpeoplearoundtheworldwhohavenobankaccountwilluseit,aswellasar
ound2.7billionFacebookusers.Peoplewillsendandreceivepaymentso
nlineviaFacebook-ownedapps.Thesendingfeeswillbeverylow.Analys
tssayLibrawillbemorestablethanBitcoin.Itwillavoidthefluctuationsin
valuethatBitcoinexperiences.Librawillbebackedbyabasketofmajorc
urrencies.Itwillalsohavethebackingofmulti-nationalcompanieslike
Mastercard.LibracouldincreaseFacebook'sfortunes.Afinancecompa
nysaidLibracouldbeoneof"themostimportantinitiatives"inFacebook'
shistory.Itcouldbringmanynewusersand"generatenewrevenuestrea
ms".

Student survey

Write five GOOD questions about this topic in the table. Do this in pairs. Each student must write the questions on his / her own paper. When you have finished, interview other students. Write down their answers.

(Please look at page 12 of the PDF to see a photocopiable example of this activity.)

Discussion — Write your own questions

STUDENT A’s QUESTIONS (Do not show these to student B)

(a) ________________

(b) ________________

(c) ________________

(d) ________________

(e) ________________

(f) ________________

(g) ________________

(h) ________________

STUDENT B’s QUESTIONS (Do not show these to student A)

(i) ________________

(j) ________________

(k) ________________

(l) ________________

(m) ________________

(n) ________________

(o) ________________

(p) ________________





Free writing

Write about this topic for 10 minutes. Comment on your partner’s paper.

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Answers

(Please check your answers against the article above.

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